1.

Raw materials inventory	$ 74000		$ 58000
Work in process inventory	98000		110000
Finished goods inventory	100000		92000

During 2020, Waterway purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. How much is total manufacturing costs incurred during 2020 for Waterway?

$1860000

$1876000

$1872000

$1864000

2. A process began the month with 2900 units in the beginning work in process inventory and ended the month with 2100 units in the ending work in process. If 22800 units were completed and transferred out of the process during the month, how many units were started into production during the month?

22000.

22800.

23600.

20700.

3. A process began the month with 2700 units in the beginning work in process inventory and ended the month with 1600 units in the ending work in process. If 21300 units were completed and transferred out of the process during the month, how many units were started into production during the month?

19700.

21300.

22400.

20200.

4. Concord Corporation's accounting records reflect the following inventories:

	Dec. 31, 2019		Dec. 31, 2020
Raw materials inventory	$ 80000		$ 64000
Work in process inventory	104000		116000
Finished goods inventory	100000		92000

During 2020, Concord purchased $1430000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. Assume Concords cost of goods manufactured for 2020 amounted to $1844000. How much would it report as cost of goods sold for the year?

$1852000

$1944000

$1836000

$1752000